Against the U.S. dollar, the Egyptian Pound was floated to EGP 13.10 per USD 1.00. Selling a U.S. Dollar, however, yields EGP 13.50.

The Egyptian Pound will be allowed to fluctuate (either positively or negatively) in value by 10 percent for a short period before it is set.

Also in an announcement, the Bank Misr and Al-Ahly announced that buying Egyptian Pound certificates will provide customers with an interest rate between 16 and 20 percent, depending on the duration that the certificates are kept.